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Open nowFirst seen 81 days ago

AVP, CRE Loan Administration

SitusAMC67 open roles

Pay
$115,000 – $140,000 a year
Where
New York, NY
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Your applicationOpen nowAVP, CRE Loan AdministrationSitusAMC · New York, NY

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The clock on this job

Early applications get read.

13.6% of postings close within 7 days. Measured by our own scanner across the market. SitusAMC postings stay open a median of 33 days.

Share of postings closed within
  1. 2.3%1 day
  2. 4.7%3 days
  3. 13.6%7 days
  4. 21.9%14 days
  5. 36.9%30 days
  6. 59.0%60 days
This job: first seen 81 days ago

SitusAMC median: 33 days open

The posting

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.

At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!

Hanover is looking for an AVP level candidate to support the Senior Loan Administrators in the day-to-day administration of a diverse portfolio of CRE loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings. As a member of Loan Administration, you will work alongside colleagues in Asset Management, Portfolio Management and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio.

Specific responsibilities include:

  • Support Senior Loan Administrators in the day-to-day administration of assigned loans, including communication with Borrowers and Lenders/Investors and Client
  • Analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams
  • Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding
  • Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration
  • Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel to inspect construction projects.
  • Performing monthly waterfall calculations including the monitoring of income, operating budgets and leasing status
  • Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system.
  • Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness.
  • Update and monitor loan specific information in the loan servicing system
  • Flexibility in schedule with respect to meeting time sensitive client needs
  • Ability to work independently on projects and collaborate ‘face to face’ as a team player.
  • Handle the collection and remittance of payments
  • Verification and payment of taxes and insurance
  • Calculating property/unit release prices and monitoring releases

Qualifications sought:

  • Bachelor’s degree in related field or equivalent combination of education and experience
  • Minimum of 6+ years of industry and/or relevant experience, typically with 1+ years in a Senior Associate level role or external equivalent.
  • Minimum 2+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field
  • Construction loan experience required
  • Knowledge of cash management and waterfalls preferred
  • Excellent reading and comprehension skills
  • Ability to communicate effectively both written and verbal
  • Analytical skills to understand complex commercial loan documents
  • Strong organizational and time management skills
  • Understanding of 3rd party reports including appraisals, property condition reports, and environmental reports.
  • Ability to work independently on projects and also collaborate ‘face to face’ as a team player
  • Ability to work in fast-paced environment running multiple tasks under tight deadlines
  • Strong analytical, problem solving and computer skills with a thorough knowledge of Excel
  • Excellent written, verbal and electronic communication skills with attention to detail
  • Work in a team environment yet think independently and generate quality work product with little supervision
  • Manage multiple priorities and meet multiple deadlines
  • Ability to approach work from more of a “transaction” basis versus “task” basis
  • Understanding of real estate finance including debt and equity structures

Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings. SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

The annual full time base salary range for this role is

$115,000.00 - $140,000.00

Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.

Pay Transparency Nondiscrimination Provision

SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

Know Your Rights, Workplace Discrimination is Illegal

SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

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